Cambridge Investment Research Advisors Inc. increased its stake in Watsco Inc (NYSE:WSO) by 28.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,222 shares of the construction company’s stock after purchasing an additional 710 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Watsco were worth $548,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. SeaCrest Wealth Management LLC acquired a new stake in Watsco during the 4th quarter worth $103,000. Cigna Investments Inc. New acquired a new stake in Watsco during the 4th quarter worth $205,000. Financial Gravity Companies Inc. acquired a new stake in Watsco during the 4th quarter worth $230,000. Capital Fund Management S.A. acquired a new stake in Watsco during the 4th quarter worth $224,000. Finally, Eagle Boston Investment Management Inc. acquired a new stake in Watsco during the 4th quarter worth $226,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.
WSO has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Watsco from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Stifel Nicolaus reaffirmed a “buy” rating and set a $191.00 target price on shares of Watsco in a report on Wednesday, April 4th. JPMorgan Chase lowered their target price on shares of Watsco from $180.00 to $169.00 and set a “neutral” rating for the company in a report on Monday, February 12th. Susquehanna Bancshares set a $195.00 target price on shares of Watsco and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Stephens set a $169.00 target price on shares of Watsco and gave the stock a “hold” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $173.50.
Watsco (NYSE:WSO) last announced its quarterly earnings results on Thursday, February 8th. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.10). Watsco had a net margin of 4.80% and a return on equity of 14.66%. The firm had revenue of $964.35 million during the quarter, compared to analyst estimates of $965.85 million. During the same period last year, the firm earned $0.81 EPS. Watsco’s quarterly revenue was up 5.6% on a year-over-year basis. equities analysts expect that Watsco Inc will post 6.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Monday, April 16th will be issued a $1.45 dividend. This is a positive change from Watsco’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 13th. This represents a $5.80 annualized dividend and a dividend yield of 3.09%. Watsco’s payout ratio is 91.24%.
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Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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